As a result of the merger, Churchill Capital and Lucid Motors will be renamed Lucid Group. In addition to this, shares of CCIV stock will switch over to the LCID stock ticker.
Similarly, Is CCIV stock a good investment?
If anything goes wrong, shares have a lot of downside potential, which makes CCIV/Lucid a high-risk/high-reward investment. That can be a good choice for some, but others will likely favor staying away or opting for lower-risk choices instead.
Is CCIV publicly traded? and NEW YORK, July 23, 2021 /PRNewswire/ — Churchill Capital Corp IV (« Churchill IV » or « CCIV ») (NYSE: CCIV), a publicly traded special purpose acquisition company, and Lucid Motors today announced the completion of their business combination, taking public a company that is setting new standards with its advanced …
Thereof, Will CCIV merge with Lucid?
After days of both sides rallying stockholders to exercise their vote, the SPAC merger between Lucid Motors and Churchill Capital Corp IV (CCIV) has been approved.
Is CCIV now LCID?
CCIV is now officially LCID as the Lucid Motors transaction has closed and begins trading under its new ticker today. All 7 SPAC merger votes are at prices that make more big redemptions possible. The SPAC saga of Churchill Capital Corp.
When did CCIV go public?
Lucid Motors will be going public through a SPAC merger with Michael Klein’s Churchill Capital Corp IV (NYSE: CCIV) on July 23.
Is LCID a SPAC?
$LCID SINCE 7/26/2021 MERGER
Lucid went public on July 26 upon merging with Churchill Capital IV, a special purpose acquisition company (SPAC). That day LCID closed at $26.83. Even prior to the listing, Lucid was closely watched and followed by retail traders.
Where is LCID located?
Lucid Motors (Nasdaq: LCID) is based in Newark, California, but it chose to build its manufacturing facility in Pinal County, about an hour south of Phoenix. An aerial view of Lucid Motors’ plant in Casa Grande.
When did CCIV become LCID?
Should the merger be approved by investors (which it likely will be), CCIV will cease to trade, and shares will be converted to LCID, which will trade on the NYSE starting July 23.
Who bought CCIV?
Lucid Group Goes Public After CCIV Merger, Raises $4.4 Billion.
How much of Lucid will CCIV own?
Factoring in for the 19.1% ownership interest in Lucid by CCIV shareholders, Lucid is coming to market at an implied valuation of $42 billion. At this price, Lucid would trade at the same market capitalization as Tesla in 2017.
Who is Churchill Capital merger with?
Lucid completed the previously announced merger with Churchill Capital Corp IV on July 23, 2021. The combined company will now operate as Lucid Group, Inc. Lucid will be ringing the opening bell at Nasdaq on July 26 to celebrate the company’s public listing.
Why is LCID dropping?
Shares are falling in after-hours trading because production isn’t ramping up fast enough for investors. Lucid (ticker: LCID) stock rose 10% in Monday’s regular session. That was a good day for shares considering that the S&P 500 and Dow Jones Industrial Average fell about 0.2% and 0.5%, respectively.
How do I buy LCID stock?
You can buy Lucid Motors stock now under the ticker ‘LCID’ on the Nasdaq exchange. As a result of the merger, Churchill Capital and Lucid Motors were renamed Lucid Group and shares of CCIV switched over to the LCID ticker.
Is LCID a strong buy?
Out of 4 analysts, 1 (25%) are recommending LCID as a Strong Buy, 0 (0%) are recommending LCID as a Buy, 2 (50%) are recommending LCID as a Hold, 0 (0%) are recommending LCID as a Sell, and 1 (25%) are recommending LCID as a Strong Sell. What is LCID’s earnings growth forecast for 2022-2023?
Where can I buy LCID stock?
You can buy Lucid Motors stock now under the ticker ‘LCID’ on the Nasdaq exchange. As a result of the merger, Churchill Capital and Lucid Motors were renamed Lucid Group and shares of CCIV switched over to the LCID ticker.
How do I get LCID stock?
How To Buy LCID
- Find a reliable broker. Don’t worry, it’s easy and free to open a brokerage account. …
- Fund your new account. You’ll need to transfer money into your new brokerage account before you can buy the stock. …
- Search for LCID on the brokerage app or site. …
- Buy the stock.
When did CCIV become lucid?
Lucid Group trades under the « LCID » ticker symbol.
Lucid Group, the company formed after Lucid Motors’ July 23 merger with Churchill Capital Corp IV (CCIV), has become a publicly listed company.
Why did LCID stock drop?
Shares are falling in after-hours trading because production isn’t ramping up fast enough for investors. Lucid (ticker: LCID) stock rose 10% in Monday’s regular session. That was a good day for shares considering that the S&P 500 and Dow Jones Industrial Average fell about 0.2% and 0.5%, respectively.
Where can I buy LCID?
You can buy Lucid Motors stock now under the ticker ‘LCID’ on the Nasdaq exchange. As a result of the merger, Churchill Capital and Lucid Motors were renamed Lucid Group and shares of CCIV switched over to the LCID ticker.
Why is CCIV going up?
CCIV stock is getting a boost as investors salivate at the potential valuation of a special purpose acquisition company (SPAC) merger with electric vehicle (EV) maker Lucid Motors. The goal is for the SPAC to take Lucid Motors public with a reverse merger.
How many lucid shares does CCIV have?
Moreover, the PIPE investors, who are bringing in $2.5 billion in crucial liquidity, also need to be issued new shares, to the tune of 166.66 million. Assuming no redemptions, 1.595 billion Lucid Group common shares will have to be issued in total upon the close of the merger agreement.
Can CCIV reach 100?
CCIV could potentially reach $100 by 2024. The firm already has a world-beating design for its planned vehicles. A combination of solid demand, tax credits and excellent management might well come together and send Lucid stock to a $160 billion aggregate value.
How much cash does CCIV have?
Bloomberg reported talks last month, and since then the market value of CCIV, which consists of $2.1 billion in cash, has ballooned to $9.1 billion amid much discussion on Reddit.
Is Lucid still with CCIV?
CCIV weaves into Lucid Motors stock
As of July 26, CCIV stock ceased to exist. Its common stock and warrants got delisted from NYSE and the company started trading under the ticker « LCID » on Nasdaq. Rawlinson and the rest of his team at Lucid will continue to lead the post-merger company.
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